What tax moves will Scott Walker or Hillary Clinton make if elected?
Wisconsin Governor Scott Walker cut taxes in his state, so as President鈥�听Well, he hasn鈥檛 released specific federal tax proposals. But in Wisconsin,听听by $2 billion in the past two years and听 another $2 billion is scheduled over the next two years. Cuts have come largely in property and income taxes. Walker鈥檚 spokesperson says that the Governor believes that money and decisions about how money is spent belong to taxpayers, not the government.
Money and how it鈥檚 borrowed, however, continue to be under Walker鈥檚 realm.听TPC鈥檚 Howard听听Walker agreed to $250 million in public financing for a $500 million sports facility. Taxpayers will also pay an additional $170 million in interest on the public bonds financing the arena.
Hillary Clinton鈥檚 incremental tax agenda.听She 鈥渟o far seems disinterested in fundamentally restructuring the code. Instead, she鈥檇听retain the framework of the current tax law, while听听to encourage鈥攐r discourage鈥攃ertain activities,鈥� says TPC鈥檚 Howard Gleckman.
惭补蝉蝉补肠丑耻蝉别迟迟蝉鈥�听sales tax holiday may boost in-person sales revenue.听The Retailers Association of Massachusetts estimates听听that would have otherwise gone to online retailers or sellers in New Hampshire. Association president Jon Hurst appreciates the holiday and says, 鈥淚鈥檓 not sure most people fully understand how quickly mobile commerce is growing and shifting more sales online, the bulk of which are tax-free.鈥� It鈥檚听听that the bulk of those online sales鈥攁bsent the听鈥攁re听not听tax free in Massachusetts.
It鈥檚 always darkest before the dawn, and for the IRS, it鈥檚 going to be a long night.听The Hill听will likely seek additional cuts to the agency鈥檚 budget during fiscal negotiations later this year. Ohio Congressman Jim Jordan says his conservative House colleagues will continue to try to remove Koskinen from office this fall, perhaps by coordinating impeachment proceedings between the Oversight and Judiciary panels.
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